Wacousta Cooperative Preschool Inc

Nonprofit profile at a glance

EIN
382096291
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
Eagle, MI, USA
Phone
5176262746
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$340,521
Expenses
$367,637
Assets
$38,299
Liabilities
$20,840

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Rachael Therrian (Executive Director)

Highest reported compensation

  • Rachael Therrian (Executive Director): $61,706 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

At WCP our mission is to create a nurturing play-based learning community that embodies the warmth of home empowering children to thrive emotionally socially and academically through our cooperative model.

What it reported doing in 2024

Great Start Readiness Program Classroom: GSRP is a Michigans free Pre-K program that helps ensure all of Michigans children have access to a classroom where they learn skills to prepare them for kindergarten.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 18
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 77.2%; rating input score 77
  • Fundraising efficiency: $13.45 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 16.8%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 50.9% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 46.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -37.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 77.2% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $284K in reported program spending
  • Leadership: top reported pay $62K · 4 people listed
  • Consistency: 43 of 43 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.